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Description
In the past two decades the overlapping generations (OG) model has become a dominant framework in macroeconomic analysis. This book provides a clear and self-contained introduction to OG economies.
Starting with the existence of equilibrium and the optimality of allocations, the discussion then turns to properties of equilibria, including the existence of fluctuations and sunspot equilibria, ending with applications to the theories of exchange rates and endogenous growth.
Throughout the book, OG economies are compared and contrasted with optimal growth economies. The presentation includes detailed proofs of results as well as illustrative examples. Growing out of research and teaching experience on the subject, the book is suitable for advanced students and researchers.
Table of Contents
Pure Exchange OG Economies
Optimality
Optimal Growth Economies
Stationary OG Economies
Fluctuations
Currencies
OG Economies with Production
Endogenous Growth
PART II: CONSUMERS AND FIRMS
Consumers
Preferred Sets and Support Functions
Consumers under Uncertainty
Firms
Appendix A: Sequences, Sets and Functions
Appendix B:Differentiability of Functions
Appendix C: Separation of Convex Sets
Appendix D: Dynamical Systems
References.
Product details
| Published | May 11 2010 |
|---|---|
| Format | Paperback |
| Edition | 1st |
| Extent | 250 |
| ISBN | 9780230243347 |
| Imprint | Red Globe Press |
| Dimensions | Not specified |
| Publisher | Bloomsbury Publishing |
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